On July 1,2019, cullumber company purchased new equipment for $85,000. Its estimated useful life was...
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Accounting
On July 1,2019, cullumber company purchased new equipment for $85,000. Its estimated useful life was 5 years with a $12,000 salavage value. On December 31,2022 the company estimated that the equipments remaining useful life was 10 years with a revised salavage value of $5,000 prepare the journal entry to record depreciation on December 31,2019
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